Co-Vents Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2020

Legal Domicile

Principal Officer

Michael Raymer

Phone

2068908842

Tax Period

2020-04-03 to 2020-12-31

Co-Vents Inc, founded in 2020, is a small nonprofit that reported $216K in total revenue in fiscal year 2020. The organization ran a surplus of $33K, a strong 15% operating margin.

Mission

To save the lives of COVID-19 patients by growing the supply of ventilators in the United States.

Program Service Accomplishments

Program 1

Expenses: $120,547 Revenue: $-35,771

Purchase, Refurbishing, and Distribution of Ventilators:Deployed an experienced team across the country to serve as a channel for acquiring retired ventilators. This team had deep local geographical experience in historical ventilator purchase patterns as both sales and service representatives. They purchased decommissioned ventilators that were shipped to service centers for refurbishing. The certified ventilators were made available to states and health systems to help increase ventilator capacity and save lives.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2020)

Revenue Breakdown

Contributions & Grants $251,282

Program Service Revenue $0

Investment Income $0

Other Revenue $-35,771

TOTAL REVENUE $215,511

Expense Breakdown

Grants Paid $0

Salaries & Benefits $81,665

Fundraising Expenses $0

Program Expenses $120,547

Other Expenses $101,122

TOTAL EXPENSES $182,787

Year-over-Year Comparison

	2020	2019	Change
Revenue	$215,511	N/A	N/A
Expenses	$182,787	N/A	N/A
Net Income	$32,724	N/A	N/A

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$81,665

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Paul Woodring	Chief Executive Officer	20.00	Officer	$16,333	$0	$16,333
Michael Raymer	President	20.00	Officer	$16,333	$0	$16,333
William Furniss	Chief Operating Officer	30.00	Officer	$16,333	$0	$16,333
Gary McAndrew	Director of Ventilator Sourcing	30.00	Officer	$16,333	$0	$16,333
Richard Ellis	Director of Refurbishment	20.00	Officer	$16,333	$0	$16,333

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2020	$215,511	$182,787	$40,414	$32,724